Summit County | Mid-Year 2020
Local residents and tourists in Colorado’s Summit County are excited about resuming summertime activities such as hiking, biking, and eating out while practicing social distancing due to the pandemic. Along with the return to local restaurants, shopping, and other outings that make the area such an amazing place to live, many consumers are even more eager to reengage with the real estate market in Summit County.
LIV Sotheby’s International Realty produces a Micro Market Report focused on real estate activity for Summit County and the neighborhoods within it. From January to June, compared to the same time frame of 2019, communities in the area saw a dip in the number of sold listings, as can be expected considering the impact the pandemic had on the market. Sold listings through June of this year decreased by 24% compared to the same time period the previous year. However, Summit County did still see a slight increase in average price of 1.4%, bringing the average price for the county as a whole to $838,343 for 2020. Overall, many communities within Summit County still experienced encouraging real estate activity thanks to the demand from homebuyers looking for their mountain paradise.
The average price for homes in Frisco grew by 13.8%. Homes in this town, popular for its proximity to multiple ski resorts and a host of shops and restaurants, had an average price of $769,644 through June of this year, compared to the same time frame in 2019 when the average price was $676,035. Breckenridge also saw an increase in the average price, specifically for condominiums, townhomes, duplexes, and triplexes. The average price increased by 8.5% to $842,022 in 2020, from $776,186 in 2019.
Whether you’re looking to buy or sell a home in these high-altitude communities, there are plenty of opportunities to achieve your real estate goals in Summit County.
This Colorado Micro Market Report includes real estate data statistics for the following neighborhoods (single family, unless otherwise indicated): Breckenridge, Copper Mountain, Dillon, Frisco, Keystone, and Silverthorne.